The Real Deal New York

By the numbers: NYC hotel supply balloons

Number of rooms has grown by 30% to 35% in the last five years

December 02, 2015 02:40PM

The Mark Hotel on Madison Avenue boasts the most expensive suite in NYC at $75,000 a night.

The Mark Hotel on Madison Avenue

From the December issue: In his decades-long tenure, Tom McConnell has never seen this many hotel rooms spring up in NYC. Over a five-year period, the city has seen a 30 to 35 percent increase in supply, said the head of Cushman & Wakefield’s Global Hospitality group. The city could have 140,000 hotel rooms in the next few years — up from 93,254 rooms in 2009. Part of that boom is being driven by the growth in the outer boroughs. Travelers are filling those rooms voraciously. [more]